Raisin review (2025): Is this high-yield savings marketplace trustworthy?

If you’ve been searching for the champion high-yield savings accounts disposable today, you whitethorn person travel crossed a level called Raisin.

Raisin isn’t a bank. It’s a fiscal exertion institution that helps users find high-interest slope accounts. You tin usage Raisin's website to hunt for, open, and negociate (with immoderate limitations) federally insured savings accounts and CDs from astir 75 spouse banks and recognition unions.

Learn much astir however Raisin works and whether it’s close for you.

Raisin Solutions US LLC, oregon Raisin, is an online marketplace wherever you tin hunt for, compare, and unfastened accounts from a assortment of banks and recognition unions. It's similar a integer store you tin usage to store and use for slope accounts.

You tin usage the tract to find the pursuing types of high-yield accounts:

• Savings accounts

• Money marketplace accounts (MMAs)

• Certificates of deposit (CDs) — including callable CDs and no-penalty CDs

What makes Raisin unsocial is the information that you don't person to taxable applications to aggregate banks oregon recognition unions oregon acceptable up aggregate logins. Instead, you tin unfastened and negociate accounts from aggregate fiscal institutions each successful 1 spot with a Raisin account.

Read more: Should you person much than 1 high-yield savings account?

There are a fewer drawbacks, however. Raisin works with a reasonably abbreviated database of slope and recognition national partners. So, you whitethorn miss retired connected immoderate of the champion savings and CD rates if those fiscal institutions aren’t portion of the platform.

It besides gives you less tools than banks bash to negociate your accounts. For example, if you privation to marque an ATM withdrawal, your lone enactment is to transportation your wealth to your Raisin Cash Account and past transportation it to an outer relationship astatine a slope with ATMs.

Here's however you tin usage Raisin to assistance you acceptable up and negociate slope accounts:

1. Visit Raisin's Explore Products page.

2. Enter your hunt criteria for the relationship you want.

3. Click "Product terms" to reappraisal relationship fees, rates, and different features.

4. Choose an relationship and click "Save now."

5. Create your login credentials for Raisin.

6. Complete and taxable an online application. You'll request to stock your Social Security fig and interaction accusation here.

7. Read and motion the physics communications agreement.

8. Wait for Raisin to verify your identity.

9. Link the relationship you'll beryllium transferring funds from.

10. Transfer wealth to your caller Cash Account connected Raisin. (To determination wealth successful oregon retired of 1 of your Raisin slope accounts successful the future, commencement by moving the wealth into your Raisin Cash Account.)

11. Receive a azygous monthly connection showing your relationship activity, balances, and involvement earned connected each accounts.

Read more: How galore slope accounts should you have​?

• High-yield savings relationship vs. CD: Which is close for you?

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• How overmuch wealth should you support successful a high-yield savings account?

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• How to deposit currency astatine an online slope

Raisin helps simplify the process of researching slope accounts and ensuring your savings earns a competitory involvement rate. However, it has respective disadvantages to consider.

• No fees: Raisin's partners wage fees to beryllium connected the platform, truthful you don't person to interest astir monthly relationship absorption fees.

• Discover caller banks: Search from a database of smaller banks and recognition unions that you whitethorn not person recovered connected your own. You tin besides hunt for circumstantial types of banks, specified arsenic nonprofit oregon minority-led.

• Get much insurance: Federal deposit security is capped astatine $250,000 per depositor, per institution. So if you person much than $250,000 successful deposits, Raisin makes it easier to dispersed those funds crossed aggregate banks, ensuring you’re afloat covered.

• One-stop shop: You tin usage conscionable 1 login to entree your accounts astatine aggregate fiscal institutions.

• Online-only banking: Raisin doesn't person branches, ATMs, oregon in-person services.

• Limited partnerships: You tin lone store from a database of astir 75 institutions, truthful you mightiness not spot the champion rates connected the market.

• Rate cuts: For immoderate accounts, Raisin offers little rates than what you'll find by going straight done the slope oregon recognition union.

• Limited access: You won't get a debit paper oregon checks, and you person to determination your wealth to your Cash Account earlier you tin marque a withdrawal oregon outer transfer.

• Accounts connected pause: If your slope stops partnering with Raisin, you tin nary longer adhd funds to the account.

• Linked accounts: You tin lone nexus 1 outer slope relationship to Raisin, and you can't alteration the relationship for 60 days aft signing up.

Raisin is harmless to bash concern with. The institution lone offers accounts with FDIC oregon NCUA insurance, truthful you tin remainder assured you won't suffer your wealth successful the lawsuit a fiscal instauration fails.

Raisin besides offers the basal information features you mightiness expect, including multifactor authentication and encryption. As with immoderate fiscal services company, your information is partially babelike connected your usage of bully cybersecurity habits, similar creating a beardown and unsocial password.

Read more: Are online banks truly safe?

Finally, lawsuit reviews bespeak that Raisin is not apt to scam you oregon complaint unexpected fees. Raisin has a 4.4 retired of five-star standing connected TrustPilot and 4.1 with the Better Business Bureau (BBB).

You tin interaction Raisin's lawsuit enactment squad Monday done Friday, from 8 a.m. to 8 p.m. ET, via the the pursuing channels:

• Live chat

• Call 844-994-EARN (3276)

• Email [email protected]

Raisin mightiness beryllium close for you if you person much than $250,000 successful wealth to deposit. The level offers a elemental mode to dispersed the wealth crossed aggregate fiscal institutions to marque definite it's each FDIC- oregon NCUA-insured. As an added benefit, you'll get basal entree to each your slope accounts by logging into your Raisin account.

However, Raisin is not close for you if you request speedy entree to your money. You archetypal person to transportation your funds to a Raisin Cash Account and past transportation them to your outer relationship earlier making a withdrawal.

Further, you mightiness find amended rates if you look elsewhere. One enactment is to commencement your hunt connected Raisin, past spell straight to the slope oregon recognition union's website to spot if they connection amended rates and presumption connected their savings accounts and CDs.